CandleFocus NEIRO Surges to New All-Time High, Buyer Fatigue Could Dampen Momentum
2024-10-15
Author: Content Editor
The cryptocurrency First Neiro on Ethereum (NEIRO) has seen a 12% increase in the past 24 hours, briefly reaching an all-time high of $0.0023 before pulling back. However, there are indicators that suggest the coin may be overbought, and a correction could be on the horizon. The price is approaching the upper bands of its Bollinger Bands indicator, indicating increased volatility and potential overbought conditions. The surging Relative Strength Index (RSI) also confirms this, with a value above 70 indicating overbought conditions. Based on Fibonacci Retracement levels, the price could decline by 18% to $0.0018, and if the support line is not defended, the value could drop by an additional 51% to $0.00091. On the other hand, if buying activity resumes, NEIRO could reclaim its all-time high and attempt to break through this resistance level.
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